Peter Smith
The EUR/USD pair delivered a clean bearish move today, falling from 1.16243 straight down to 1.16050 where the take-profit target was hit with surgical precision. After weeks of sideways action, the pair finally broke lower in a move that technical traders had been waiting for.
EUR/USD Price Levels to Watch
Forex analyst @B_trader__ highlighted this outcome, this wasn't just lucky guesswork - it was a calculated play based on solid resistance levels and price action signals. The setup had all the hallmarks of a high-probability trade: clear resistance, defined risk levels, and a realistic profit target.
The key levels that mattered:
- Entry zone around 1.16200
- Resistance at 1.16240-1.16243 held firm
- Take-profit at 1.16050 hit perfectly
The rejection at 1.16243 and the clean run to target shows why respecting key levels matters so much in forex. When price action aligns with technical levels, moves often unfold exactly as planned.
What's Next for EUR/USD Price?
Looking ahead, EUR/USD stays bearish below 1.16200. If sellers keep pushing, the next target sits around 1.15800. But if buyers step back in above 1.16200, we could see the pair drift back into consolidation mode or even attempt a bounce.
The bigger picture matters too. Dollar strength, European economic data, and central bank policy will all play their part. But for now, technical traders are celebrating another textbook setup that played out exactly as expected - proving that sometimes the charts really do tell the whole story.
Peter Smith
